Banking – I Answers

1 As per the latest guidelines of Reserve bank ofIndia, the banks have to calculate interest of savings account deposits on __________ Basis? Ans) Daily
2 When was Reserve Bank ofIndiaestablished? Ans) 1935
3 How many banks were first nationalised? Ans)14
4 When was Reserve Bank of India Nationalised? Ans) 1949
5 When was Indian Banking Act come into force? Ans) 1949
6 The Regional Rural Banks came into existence in ? Ans) 1975
7 As per the provision of the Micro Finance Bill 2007 , which of the following organizations is authorized to regulate the Micro Finance Sector inIndia? Ans) General Insurance Corporation OfIndia
8 Which is the first Indian bank to have been awarded the ISO certification? Ans) Canara Bank
9 Which of the following is a German based bank? Ans) Deutsche Bank
10 Which of the following is not a wholly owned subsidiary of RBI? Ans) Exim Bank ofIndia
11 Rate at which Banks borrow short term money from RBI called? Ans) Repo Rate
12 Which of the following was one of the founders of PNB ? Ans) Lala HarKishen Lal
13  Which of the following organizations looks after the credit needs of agriculture and rural development inIndia? Ans) NABARD
14 Head of the six-member Committee to set out the framework for fuller capital account, convertibility (CAC) appointed by RBI? Ans) Mr. S. S. Tarapore
15  Who is the new chairman of the Indian Banks Association IBA? Ans) O P Bhatt

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